Topic: GPU mining will die in 2018! - page 22. (Read 16909 times)

They are an investment but with good developers endless forking would keep the coins as gpu.

Monero and zec need to state we will fucking fork any asic quickly.

I say this because one is good for amd and one is good for nvidia .

This would allow smaller miners to stay in the game

I'm frustrated because people came to cryptos to have the control of their own money, decentralization, a great protest against our financial system.
But people just want to treat cryptos like any investment and just want to take profits no matter what

If you think that way, don't get upset when devs fork the coin whenever a ASIC pops up. If manufacturers don't respect the community and decides to steal, they deserve a big fuck you in their faces. Bitcoin community was too stupid to understand what was going on and now millions of USD invested in ASICs so it is too late to get out but monero community saw it through and forking away before things get out of hand.

imho, asics - great evil for mining. some of them already have less $5/day profit, just consume electricity. GPU is much more flexible way, with many purposes. Finally you can sell it back to gamers.

This is one of the best posts I have ever read from you.

Bitmain knew Mt Gox was going to sell off coins.

Bitmain had more then 85000 coins in wallets in dec of 2017

So they sold coins to get fiat.  And the two sellers crashed the price.


But in the case of bitmain. They buy new coins using gear sales.

So when I send in 1 bch for a l3 they only spent .5 bch to get my 1 bch.

I feel the build cost for a l3 is about .4 bch.

It is a vicious cycle.

But gpu dev can play shifting al-gore-rhythms to fight them

it's not that people forget it. In fact, it's a fact, that people here don't want you to know the real truth of this cryptoworld. That's why with no evidence, clue, argument or reason to believe in crypto or to consider it will recover, they apply blind faith to all, which is a way of misleading.

Yes, but people always try to forget this

You can mine BTC with GPUs, but is it profitable?

You gave a good example, for guys who doesn't believe, go mine SIA, it's mineable via GPU and Asic, check your profits 

Anyone with half a brain knows that. take siacoin for instance that just had asics released. theres NO one mining with gpus on that coin anymore, why because gpus are no longer profitable on it because of the high hashrate the asics push out

We'll see what happens with monero hard fork

Maybe asics are not fair, but, mining coins is not a regulated activity, you don`t need to go to anywhere pay for a license, pass controls, audits, etc, mining hardware manufacturers don`t need to ask for approval or to be lincesed to be able to mine a coin, if there is no regulation, and there is a competition for money, what do you expect?, A business that are capable of developing a miner and take lot of profit mining and selling this miner what is going to do, do you expect that this manufacturer is going to say: no, we are not going to earn millions because is it no fair for gpu miners, wake up, things does not work in this way.

If mining is not a regulated activity and anyone can access if you go to mining it you are doing it at your onw risk, but asic manufacturers are not too much different from us, we are mining for love to the project? or we are mining to earn money? because all the forums are plenty of people talking about profits, so in the end an asic manufacturer and al of us we wnt the same, profit from mining, and profit as much as possible.

If eth promised that they would be asic resistant and asics comes to play, would be a problem of ETH to find how to evolve the algo to make it asic resitant, and if is not possible to mine in the future with gpus due to asics, then miners should to take the decission to retire or to move to asic, as in all other industries.

Your logic is so fucked up.

ETH always was a GPU coin yet it managed to be the second big crypto in 2-3 years.

ASICs are thievery, nothing else. What ASIC manufacturers do is, stealing your right to buy a miner. Because when an ASIC manufacturer decides not to sell an ASIC, there is nothing you can do about it. If bitmain, bitfury, halong decide to not sell their HW so they can mine all the coins (bitfury is doing this pretty much btw) what would you think about that? While a GPU/CPU company has to sell their HW to their customers no matter what, ASIC companies can completely ignore this. Fuck ASICs.

Back to the topic.

There are 2 coins which keep GPU mining alive today. ETH and Zcash. If one of them dies, the damage will be huge. Tbh i dont think zcash has the power to carry all the available GPU's. Only Eth can do it and when it switches to PoS ot will be over for us.

https://en.bitcoin.it/wiki/List_of_Bitcoin_mining_ASICs

Unscammed bitcoins asics were delivered at the end of 2013, december to be precise, before that too many scams and other things, most people paid huge sums of money and never received their bitcoin asic. Check the list.

Bitcoin crashed hard when the market was flooded with asics which was after december 2013. Most Chinese had free electricity and Europeans or Americans could not understand why the Chinese could sell their bitcoins so cheap. Check headlines and archives, it might help your mindless trollhead.

"Until late 2013, generic graphics cards and field-programmable gate arrays (FPGAs) were powerful enough to put you in the race. But that same year companies began to sell computer chips, called application-specific integrated circuits (ASICs), which are specifically designed for the task of computing the Bitcoin hashing algorithm. "

https://spectrum.ieee.org/computing/networks/why-the-biggest-bitcoin-mines-are-in-china

https://www.buybitcoinworldwide.com/mining/china/

https://medium.com/@evawxiao/cheap-electricity-made-china-the-king-of-bitcoin-mining-the-governments-stepping-in-118c20725f7b

I think this defeats the whole purpose of the decentralized coin idea and it will not be allowed to die.

I think the future of crypto currency is in the coins that are ASIC resistant or for coins that strive to be ASIC resistant, like someone was saying BTG is trying to avoid ASICs as much as possible.

I think everyone is aware of the fact that the BTC network has become very congested (transactions are being processed very slow) thus sellers are starting to keep away from it.

I mean even the bitcoin conference did not accept btc as a form of payment. That tell us something right?

There are plenty of ASIC resistant coins to mine profitably with your GPUs.

ASIC devices will just be a part of the mining market. Most of miners are using GPU rigs, because if you're bored with mining, you can just sell your GPUs for gamers.

A bunch of ASIC devices is already obsolete, nobody wants it and it's not profitable anymore.

Bitcoin started to be mined with asics on 2013, bitcoin value were at 40$ on march 2013, bitcoin went to 20k on december 2017, a 500x value, so if you say that asics makes a coin value to drop, you can see what happened with bitcoin and see that for bitcoin it was not true that asics were something bad, maybe for gpu miners on 2013 asics were bad news, but not for new asics miners who started a business and not for bitmain, and not for the bitcoin value.

Your term "market correction" for me is manipulation to their favor cause they can right now cause supply is low on rewards for gpu miners and high for asics manufactures miners and about demand, investors are afraid to buy cause they know asic manufactures are getting coins easy, so investors are not buying and instead of holding their coins some with big bags start selling cause if they dont then asic companies will or vice versa. Another truth is asics companies are selling their mined coins for fast profit till they find a bottom and then will start filling their bags again and stop selling and then pump 10x/20x.

There are lots of reasons for a market correction, but nobody that has any credibility is saying that. Only a delusional nutjob with fantasies of ASIC conspiracies, GPU mining dying and suicidal noobs. LOL.

And most of people ignore this fact

All asics cause big coin investors know what the hell is going on too and they know they will buy cheap eth and other altcoins, so they sell what they have and then buy back cheaper and then start filling their bags again for the next run, as they know there are asics for eth, now they are investigating the bottom, checking the desperate or idiots who will sell their eth, zec cheap and then will pump these coins 10 times next time. This is pure manipulation but they are only doing it cause they know they can cause asics gave them a reason too. If were not for asics then eth and other altcoins would not have crashed, even bitcoin would not crashed. Probably eth would have been around $3000, bitcoin close to $27k and zec $1200. It happened the same with bitcoin, as soon as asics started mining bitcoin, bitcoin crashed 15 times and then stood at 9 times.

Noobs will say bitcoin crashed because of mt.gox because they dont want to tell the truth. Bitcoin crashed with asics because it was easy money, so it was a run to sell or lose profit cause it was very easy to mine and earn bitcoins.

The main reasons for a decrease in profitability from the beginning of the year are a 60-80% drop in the price from the ATH for most coins AND an increase in difficulty. In the case of ETH it's down 60% from the ATH of $1,350 at the beginning of the year and the difficulty is up 68% from the beginning of the year. Even if there was NO difficulty increase from the beginning of the year, a RX 570 would be making $1.80 per day at the current price.

https://bitinfocharts.com/comparison/ethereum-difficulty.html#3m

http://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=31.0&d_enabled=true&d=1.81907313557642e%2B15&p=150.0&fee=3.0&cost=0.12&hcost=&commit=Calculate

ZEC is down 66% from the $728 ATH at the beginning of the year and the difficulty is up 42% from the beginning of the year. If the difficulty remained the same as the beginning of the year, a 1080 Ti would be making $2.11 a day at the current price.

https://bitinfocharts.com/comparison/zcash-difficulty.html#3m

http://whattomine.com/coins/166-zec-equihash?utf8=%E2%9C%93&hr=750.0&d_enabled=true&d=6992090.65&p=200.0&fee=3.0&cost=0.12&hcost=0.0&commit=Calculate

I wish bitmain and asics would just die off. Hopefully more coins and devs will continue to make them asic proof for the future.